Horacio Marín, from the oil company Tecpetrol, will be in charge of YPF in Argentina

The president of Exploration and Production of the oil company TecpetrolHoracio Marín, will be in charge of YPF, the largest hydrocarbon producer in Argentina, controlled by the Argentine State and whose shares are listed on the Buenos Aires and New York stock exchanges.

As reported this Friday in a statement from the Office of the President-Elect of the Argentine Republic, the representative of Tecpetrol -which explores and produces hydrocarbons in Argentina, Bolivia, Colombia, Ecuador, Mexico, Peru and Venezuela and is a subsidiary of the Argentine steel conglomerate Techint – will be the head of YPF.

During the campaign, the president-elect, the ultra-liberal Javier Milei, has shown his intention for the State to divest itself of its actions in YPF.

The oil company YPF reported a net profit in the first half of the year of 721 million dollars, a reduction of 33.1% compared to the profits obtained in the same period of 2022.

Its total hydrocarbon production in that period totaled 513,000 barrels equivalent per day, with strong production growth in the Vaca Muerta unconventional hydrocarbon formation in southwestern Argentina.

Vaca Muerta is the world’s second largest reserve of unconventional gas and the fourth largest oil reserve of this type and is in a stage of growing massive development.

In the same statement, the president’s office reported that economist Osvaldo Giordano, Minister of Finance of the central province of Córdoba, will be the head of the National Social Security Administration (ANSES), the largest fund in the State.

This position was initially going to be occupied by the member of La Libertad Avanza (far-right) Carolina Píparo, who was a candidate for the Government of the province of Buenos Aires and was one of the most prominent politicians in the purple party’s campaign.

In fact, she herself celebrated her alleged appointment this Thursday and commented that on Monday the 27th she would begin the transition with the current authorities.

“As always, in every place I have been, I am going to give my best and work every day so that every person who needs ANSES receives the best possible care from us.”, he published on his social network account X.

Giordano’s signing would be related, according to the local press, to an agreement with former presidential candidate Juan Schiaretti, representative of dissident Peronism in the province of Córdoba, one of the provinces that most supported Milei.

The elected president will assume the Presidency on December 10 after winning the second round of the elections held on November 19 against the ruling party Sergio Massa, current Minister of Economy.